Novartis AG Stock Forecast

Evaluation of Novartis AG stock downgraded after the last trading session.
(Updated on May 22, 2024)

NOVN.SW Signals & Forecast

The Novartis AG stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 93.27 Fr. On a fall, the stock will find some support from the long-term average at approximately 88.67 Fr. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -0.778%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, September 13, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Novartis AG stock

Novartis AG finds support from accumulated volume at 90.00 Fr and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved 0.620 Fr between high and low, or 0.667%. For the last week, the stock has had daily average volatility of 0.86%.

Our recommended stop-loss: 89.83 Fr (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)

Trading Expectations (NOVN.SW) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Novartis AG to open at 93.27 Fr, and during the day (based on 14 day Average True Range), to move between 91.89 Fr and 94.43 Fr, which gives a possible trading interval of +/-1.27 Fr (+/-1.37%) up or down from last closing price. If Novartis AG takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 93.37 Fr (0.23%) than the support at 90.00 Fr (3.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Novartis AG stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Novartis AG stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.708 Buy Candidate Downgraded

Predicted Opening Price for Novartis AG of Thursday, May 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.